Hers are the comparative condensed income statements of Pronghorn Corp. PRONGHORN CORP Condensed Income Statements For...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Hers are the comparative condensed income statements of Pronghorn Corp. PRONGHORN CORP Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales S640,900 $570,000 Cost of goods sold 429,403 407,550 Grass Profit 211,497 162.450 Operating expenses 76,908 39,900 Net income $134,589 $ 122,550 Prepare a horizontal analysis of the income statement data for Pronghorn Corp, using 2021as a base. (If amount and percentage area decrease show the numbers as negative eg.-55,000, -20% or (55,000), (20KL Round percentages to 1 decimal piace, eg. 12.1%) PRONGHORN CORP Condensed Income Statements Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales S640,900 S570,000 Cast of goods sold 429,403 407,550 Gross Profit 211497 162,450 Operating exoensas 76,908 39,900 Net income $134,589 $122,550 Hers are the comparative condensed income statements of Pronghorn Corp. PRONGHORN CORP Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales S640,900 $570,000 Cost of goods sold 429,403 407,550 Grass Profit 211,497 162.450 Operating expenses 76,908 39,900 Net income $134,589 $ 122,550 Prepare a horizontal analysis of the income statement data for Pronghorn Corp, using 2021as a base. (If amount and percentage area decrease show the numbers as negative eg.-55,000, -20% or (55,000), (20KL Round percentages to 1 decimal piace, eg. 12.1%) PRONGHORN CORP Condensed Income Statements Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales S640,900 S570,000 Cast of goods sold 429,403 407,550 Gross Profit 211497 162,450 Operating exoensas 76,908 39,900 Net income $134,589 $122,550
Expert Answer:
Answer rating: 100% (QA)
PRONGHORN CORP Condensed Income Statements For the Years Ended De... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
The comparative condensed income statements of Indra Corporation are shown below. Instructions(a) Prepare a horizontal analysis of the income statement data for Indra Corporation using 2012 as a...
-
The comparative condensed income statements of Emley Corporation are shown below. Instructions (a) Prepare a horizontal analysis of the income statement data for Emley Corporation using 2014 as a...
-
Using the comparative income statement, prepare a horizontal analysis of all items on the income statement for years displayed. Canna, Inc. Comparative Income Statement Years Ended December 31, 2019...
-
Why is there currently an even greater need for effective employee communications?
-
On learning that Sbastien planned to travel abroad, Roslyn asked him to deliver $ 25,000 in cash to her family in Mexico. During a customs inspection at the border, Sbastien told the customs...
-
Should incomes in the United States be distributed equally? If not, should there be at least a greater degree of equality than we presently have? What are the advantages and disadvantages of greater...
-
On May 1 of the current year, Marsha Huerta and John Ward form a partnership. The partnership assumes the assets and liabilities of the two partners existing businesses. Partners share equally in all...
-
Kim & Smith Refiners starts business on March 1. The following operations data are available for March for the one lubricant it produces: Gallons Beginning inventory . . . . . . . . . . . . . . . . ....
-
2) You have the following market data. A British pound futures contract expires in 11 months. The annualized, continuously compounded risk-free interest rates in Britain and the U.S. are 1.18% and...
-
Territory and Product Profitability Analysis Pipeline Surfboards Inc. manufactures and sells two styles of surfboards, Atlantic Wave and Pacific Pounder. These surfboards are sold in two regions,...
-
Write an essay for construction project administration its also include comparison.
-
What type of audit procedure is performed when the auditor evaluates the effectiveness of the design and operation of relevant policies and procedures of the internal control structure?
-
What information is the auditor interested in obtaining about the internal control structure policies and procedures of each financial statement assertion under examination?
-
In a general sense, why does the auditor acquire an understanding of the internal control structure?
-
Explain the relationship between the audit strategy and the necessary level of understanding of the internal control structure.
-
Created in Stockholm in 1876 where Lars Magnus Ericsson designed telephones, Ericsson in 2021 is a global company that supplies communication infrastructure, services and software to the telecom...
-
01/01 04/01 17. Using the following information, compute earnings per share. 200,000 common shares outstanding 40,000 common shares issued 07/01 80,000 common shares purchased 11/01 12/31 50% common...
-
-x/2 x/4 If A = -x/2 and A-1 =6 then x equals
-
The following is a list of terms related to performance evaluation. (1) Balanced scorecard (2) Variance (3) Learning and growth perspective (4) Nonfinancial measures (5) Customer perspective (6)...
-
This exercise is an introduction to the Big Four accounting firms, all of which are partnerships. Addresses Deloitte & Touche www.deloitte.com/ Ernst & Young www.ey.com/ KPMG www.us.kpmg.com/...
-
Rondelli Company entered into an agreement to lease 12 computers from Estes Electronics Inc. The present value of the lease payments is $186,300. Assuming that this is a capital lease, what entry...
-
Describe the purpose of the internal audit function.
-
Characterize an organization's internal control structure.
-
What groups need the outputs of an accounting information system?
Study smarter with the SolutionInn App